Biogen Inc. (NASDAQ:BIIB) Stock Holdings Lifted by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 8.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,309 shares of the biotechnology company’s stock after acquiring an additional 543 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Biogen were worth $1,694,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Plato Investment Management Ltd grew its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Biogen during the 4th quarter valued at $26,000. Rise Advisors LLC purchased a new position in shares of Biogen during the 1st quarter valued at $27,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen during the second quarter worth $33,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Biogen during the first quarter worth $36,000. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Biogen Stock Up 0.5 %

Shares of BIIB opened at $185.68 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The company has a 50-day simple moving average of $200.69 and a 200-day simple moving average of $212.83. Biogen Inc. has a 52 week low of $183.56 and a 52 week high of $269.43. The firm has a market capitalization of $27.03 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.97 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the firm posted $4.02 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities research analysts expect that Biogen Inc. will post 16.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on BIIB. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Piper Sandler dropped their price objective on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Mizuho reduced their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird dropped their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, Royal Bank of Canada reduced their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.78.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.